Shut down price, break-even price
The break-even price in perfect competition is where normal profits are made and AR = P = ATC = MC = MR. This is shown in Figure 1 below.
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Do perfectly competitively industries exist?
No 'perfect' perfectly competitive industries exist. Ironically, one of the closest today is probably the market for shares. However, as we mentioned before, it is still an important model as it provides a benchmark against which other markets can be judged. It can help in formulating appropriate policies to improve uncompetitive markets.